CenterBook Partners LP Reduces Holdings in Grocery Outlet Holding Corp. $GO

CenterBook Partners LP decreased its position in Grocery Outlet Holding Corp. (NASDAQ:GO) by 45.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,140 shares of the company’s stock after selling 149,538 shares during the period. CenterBook Partners LP owned approximately 0.18% of Grocery Outlet worth $2,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GO. Bayforest Capital Ltd acquired a new stake in Grocery Outlet during the 3rd quarter valued at approximately $29,000. Hantz Financial Services Inc. raised its holdings in shares of Grocery Outlet by 591.5% during the third quarter. Hantz Financial Services Inc. now owns 2,033 shares of the company’s stock worth $33,000 after purchasing an additional 1,739 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Grocery Outlet by 32.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the company’s stock valued at $37,000 after purchasing an additional 719 shares during the period. AlphaQuest LLC boosted its holdings in Grocery Outlet by 327.7% in the second quarter. AlphaQuest LLC now owns 5,761 shares of the company’s stock valued at $72,000 after purchasing an additional 4,414 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Grocery Outlet during the 2nd quarter worth about $120,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

Wall Street Analysts Forecast Growth

GO has been the subject of several analyst reports. Telsey Advisory Group decreased their price objective on Grocery Outlet from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday. Morgan Stanley reduced their price target on Grocery Outlet from $14.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (d)” rating on shares of Grocery Outlet in a research report on Thursday, January 22nd. Wells Fargo & Company dropped their price objective on shares of Grocery Outlet from $19.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, December 19th. Finally, Deutsche Bank Aktiengesellschaft set a $11.00 target price on shares of Grocery Outlet in a report on Thursday, January 8th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.32.

Grocery Outlet Trading Up 2.8%

Shares of NASDAQ:GO opened at $10.32 on Thursday. The business’s 50 day moving average price is $9.92 and its 200-day moving average price is $13.27. Grocery Outlet Holding Corp. has a 1 year low of $8.96 and a 1 year high of $19.41. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -206.40, a price-to-earnings-growth ratio of 2.00 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.30 and a quick ratio of 0.25.

About Grocery Outlet

Grocery Outlet Holding Corp. (NASDAQ: GO) is a specialty discount retailer that offers consumers deeply discounted groceries by purchasing excess inventory, closeouts, and overstocks from manufacturers and distributors. Headquartered in Emeryville, California, the company operates two primary banners—Grocery Outlet and Fresh2Go—with a combined footprint of more than 400 stores. Its product assortment spans fresh produce, meat, dairy, bakery items, household staples, natural and organic offerings, and select specialty products, all sold at significant markdowns compared to conventional supermarkets.

The company’s unique buying model enables it to source inventory through opportunistic purchases of surplus freight, discontinued items, and closeout deals, which it then passes on as savings to its customers.